US Spot HRC prices decline further in December

United States HRC spot prices continued their decline into December as imbalances in supply and demand continued to negatively impact steel markets.

US HR coil prices fell to a 12-month low in December, with TSI’s daily index ending the month at $603 a short ton FOB Midwest Mill.

Despite US Steel announcing its intention to enforce its recent price hike effective immediately, buyers seemed unperturbed and deals concluded lower as prices lurched closer to $600 a short ton.

As with November, market activity unsurprisingly quietened in the last week though that did not prevent prices falling US$5/s. ton on the final day of the month. Of the relatively few deals that did take place, $600 a short ton was a level at which many buyers secured volumes.